June 24, 2020 / 2:05 PM / 20 days ago

Austria receives nearly nine-fold demand for new 100-year bond - lead manager

AMSTERDAM, June 24 (Reuters) - Austria was set to sell a new 100-year bond on Wednesday, on the back of demand nearly nine times the amount being sold, according to a lead manager.

The country received 17.7 billion euros of demand for the bond, according to a lead manager update seen by Reuters, which will raise 2 billion euros for a yield of 0.88% as announced earlier.

850 million euros of demand came from the lead managers, the update said.

The bond, due to price later on Wednesday, will offer a coupon of 0.85%, according to the update.

Barclays, BofA, Deutsche Bank, JP Morgan, Natwest Markets and UniCredit are managing the sale. (Reporting by Yoruk Bahceli, Editing by Abhinav Ramnarayan)

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